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Hello,
the problem goes like this:
the marketing manager of a food manufacturing company is planning to introduce a new breakfast cereal into the market. In the past 40% of cereals introduced have been successful, and 60% have been failures. Before the cereals were actually marketed, market research was conducted and the report was compiled. 80% of the cereals received favorable report 30% received unfavorable report . the marketing manager wants to know the probability that the new cereal will be successful if it received a favorable report.

thank you!!!

2007-04-08 15:56:41 · 1 answers · asked by Lali 2 in Education & Reference Homework Help

1 answers

80% of the cereals received favorable report 30% received unfavorable report = 110%, so the problem is worded wrong

Anyhow, 80% had favorable report, but only 40% were successful, so 50% of the time when a cereal has a favorable report, it is successful.

Given that, 50%.

2007-04-08 16:23:09 · answer #1 · answered by Steve A 7 · 0 0

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